TIL Desk/World/Washington/ The US today announced beginning the process of imposing tariffs of 10 per cent on an additional $200 billion of Chinese imports, intensifying the trade war between world’s two largest economies. The move comes after China retaliated against the US by imposing tariffs on $34 billion in US exports to China, and threatened tariffs on another $16 billion, which the Trump administration described as “unjustified”.
In response to China’s “unfair” practices, the United States on July 6 began imposing tariffs of 25 per cent on approximately $34 billion worth of Chinese imports. “These tariffs will eventually cover up to USD 50 billion in Chinese imports as legal processes conclude. The products targeted by the tariffs are those that benefit from China’s industrial policy and forced technology transfer practices,” US Trade Representative Robert Lighthizer said.
Soon thereafter China retaliated by imposing tariffs on $34 billion in US exports to China and threatening tariffs on another $16 billion. “It did this without any international legal basis or justification,” Lighthizer said. As a result of China’s retaliation and failure to change its practices, the President has ordered USTR to begin the process of imposing tariffs of 10 per cent on an additional $200 billion of Chinese imports, he said.